Chapter 20 provides knowledge of personal selling and sales management. After reading chapter 20, you should be able to: Discuss the nature and scope of personal selling and sales management in marketing, identify the different types of personal selling, explain the stages in the personal selling process, describe the major functions of sales management.
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All rights reserved 20-1 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 20, YOU SHOULD BE ABLE TO: LO1 Discuss the nature and scope of personal selling and sales management in marketing LO2 Identify the different types of personal selling LO3 Explain the stages in the personal selling process LO4 Describe the major functions of sales management 20-2 MEET TODAY’S SALES PROFESSIONAL 20-3 LO1 SCOPE AND SIGNIFICANCE OF PERSONAL SELLING AND SALES MANAGEMENT Personal Selling Sales Management Selling Happens Almost Everywhere Cambridge Sales • “Everyone Lives by Selling Something” Personal Selling in Marketing 20-4 FIGURE 20-1 Personal selling and sales management quiz What are your answers? 20-5 LO1 SCOPE AND SIGNIFICANCE OF PERSONAL SELLING AND SALES MANAGEMENT CREATING CUSTOMER VALUE Salespeople: • Identify Creative Solutions to Customer Problems • Ease the Customer Buying Process • Make the After-the-Sale Follow-Up 20-6 LO1 SCOPE AND SIGNIFICANCE OF PERSONAL SELLING AND SALES MANAGEMENT CREATING CUSTOMER VALUE Relationship Selling Partnership Selling • Enterprise Selling 20-7 LO2 THE MANY FORMS OF PERSONAL SELLING ORDER TAKING Order Taker • Outside Order Takers • Inside Order Takers Order Clerks Sales clerks Inbound Telemarketing 20-8 LO2 THE MANY FORMS OF PERSONAL SELLING ORDER GETTING Order Getter • Outside Order Getters • Inside Order Getters Outbound Telemarketing 20-9 FIGURE 20-2 How outside order-getting salespeople spend their time each week 20-10 Order Getter An order getter sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers’ use of a product or service 20-55 Team Selling Team selling is the practice of using an entire team of professionals in selling to and servicing major customers 20-56 Personal Selling Process The personal selling process consists of sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) prospecting, (2) preapproach, (3) approach, (4) presentation, (5) close, and (6) follow-up) 20-57 Stimulus-Response Presentation A stimulus-response presentation is a presentation format that assumes that given the appropriate stimulus by a salesperson, the prospect will buy 20-58 Formula Selling Presentation A formula selling presentation is a presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect 20-59 Need-Satisfaction Presentation A need-satisfaction presentation is a presentation format that emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers 20-60 Adaptive Selling Adaptive selling is a needsatisfaction presentation format that involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information 20-61 Consultative Selling Consultative selling is a need-satisfaction presentation format that focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution 20-62 Sales Plan A sales plan is a statement describing what is to be achieved and where and how the selling effort of salespeople is to be deployed 20-63 Key Account Management Key account management is the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships 20-64 Workload Method The workload method is a formulabased method for determining the size of a salesforce that integrates the number of customers served, call frequency, call length, and available selling time to arrive at a figure for the salesforce size 20-65 Account Management Policies Account management policies specify whom salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out 20-66 Emotional Intelligence Emotional intelligence is the ability to understand one’s own emotions and the emotions of people with whom one interacts on a daily basis 20-67 Sales Quota A sales quota consists of specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated time period 20-68 Salesforce Automation (SFA) Salesforce automation (SFA) is the use of computer, information, communication, and Internet technologies to make the sales function more effective and efficient 20-69 ... Inbound Telemarketing 20- 8 LO2 THE MANY FORMS OF PERSONAL SELLING ORDER GETTING Order Getter • Outside Order Getters • Inside Order Getters Outbound Telemarketing 20- 9 FIGURE 20- 2 How outside... Selling 20- 12 MARKETING MATTERS LO2 Creating and Sustaining Customer Value Through Cross-Functional Team Selling 20- 13 FIGURE 20- 3 Stages and objectives of the personal selling process 20- 14 LO3... Lives by Selling Something” Personal Selling in Marketing 20- 4 FIGURE 20- 1 Personal selling and sales management quiz What are your answers? 20- 5 LO1 SCOPE AND SIGNIFICANCE OF PERSONAL SELLING